How Unions Affect Shareholder Wealth in Firms Announcing Layoffs
AbstractWe investigate whether investor anticipation of future performance differs between union and nonunion firms following corporate layoff announcements. Using event-study methodology and multivariate regression analysis, we find that the stock market reaction to layoff announcements is negatively related to nonunion firms and positively related to union firms.
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Bibliographic InfoArticle provided by Transaction Publishers in its journal Journal of Labor Research.
Volume (Year): 25 (2004)
Issue (Month): 3 (July)
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Web page: http://transactionpub.metapress.com/link.asp?target=journal&id=110581
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- José Allouche & Patrice Laroche & Florent Noël, 2008. "Restructurations et performances de l’entreprise:une méta-analyse," Revue Finance Contrôle Stratégie, revues.org, vol. 11(2), pages 105-146, June.
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